After months of waiting, FTX customers finally have a payout date in sight. A Delaware bankruptcy court has greenlit the release of $1.9 billion in reserves, paving the way for a new wave of customer distributions.
The record date is locked for August 15, with payouts potentially rolling out by September 30, 2025. But it’s not as simple as sitting back and waiting for the money. FTX is enforcing strict KYC and tax verification steps, warning that unverified users won’t receive anything.
The released funds stem from a reduction in the reserve for disputed claims, which has now shrunk from $6.5 billion to $4.3 billion. This strategic reallocation follows the disqualification or resolution of several claims, unlocking assets for the next round of disbursements.
Funds will be distributed via BitGo, Kraken, and Payoneer, each of which will be tasked with processing claims through the FTX Recovery Trust. However, there’s a strong warning from FTX, reminding users that it will never ask them to connect wallets or share private keys, citing an increase in phishing attempts ahead of the payouts.
While the development signals progress, the crypto community remains cautious. On X, users shared mixed reactions, with some celebrating the step forward and others still questioning the timeline.
Others expressed concern over scams and excluding 49 countries from payout, urging the community to verify every communication.
FTX had previously unstaked over $31 million worth of Solana tokens, sparking speculation that those funds would contribute to repayments. However, no confirmation has been issued about their use, adding another layer of mystery to the recovery plan.
Even though repayments are finally starting, many crypto holders are upset that FTX is using prices from way back in November 2022 to calculate how much people get. That’s a big deal for those who held Bitcoin on the exchange before it collapsed, because since then, BTC has shot up nearly 500%.
Right now, Bitcoin is trading under $120K, but the payouts are being calculated using much lower prices from two years ago. For many, that feels like missing out on massive gains. This mismatch is frustrating for investors and may be one reason why Bitcoin’s price dipped slightly today, as people worry about more coins hitting the market and what that could mean for prices.
Payouts may start by September 30, 2025, with the record date set for August 15, 2025.
FTX is releasing $1.9 billion after reducing reserves for disputed claims.
BitGo, Kraken, and Payoneer will handle payouts via the FTX Recovery Trust.
FTX collapsed due to alleged fraud, misuse of customer funds, and poor risk management.
Customers and creditors reportedly lost over $8 billion when FTX filed for bankruptcy.
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